Note: Accounts in Financio are often referred to as Balance Sheet accounts by accountants while categories are referred to as Profit & Loss accounts.

Accounts (Balance Sheet Accounts):

A small business balance sheet lists current assets such as cash, accounts receivable, and inventory, fixed assets such as land, buildings, and equipment, intangible assets such as patents, and liabilities such as accounts payable, accrued expenses, and long-term debt.

Financio created system required and commonly used accounts for you, you can always add / modify the accounts to fit your business requirements better.

To add a new account:

Click on Control Panel.

Click Accounts.

Click on +on the right bottom.

Choose an appropriate type, currency and the account name.

Click Save and your account will be added to the list.

To update an existing account:

Click on the View button on the item in the listing.

Update the type, name & description.

Click Save.

Note: You are not allowed to update the currency of the account once created.

Activate / deactivate an account:

You can always deactivate an unused account or activate a previously deactivated account.

Click on the View button on the item in the listing.

Click on the activate / deactivate button on the top right.

Categories (Profit & Loss Accounts):

Profit & loss is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period.

You can customise your categories in a similar fashion with accounts.

Account Opening Balances

This is only for those that is adding an existing business on Financio or moving their accounts away from other software.

Opening balances define the opening balances of your accounts on the day you started tracking your transactions on Financio. Note: Always make sure you have provided the Start Date correctly under Business Settings before you update your opening balances.

Click on Control Panel.

ClickOpening Balance.

Review the balance of your accounts on the day you started using Financio.

Make sure the debit & credit sides are tally before you proceed to click on Save.

Note: Just update your balances on the Balance column and leave debit / credit column alone if you are unsure about it. Debit & Credit column is designed for accountants.

Business Profile

You are advised to update your business profile before issuing any invoice / transaction to your customers / suppliers. You can customise the logo, company name & address that appear on your sale / purchase form such as invoice.

Click on the image placeholder to upload your business logo.Note: You are advised to upload squarish / landscape logo without any padding on the sides.

Add any number of contactpersons for your business, your customers or suppliers will be able to explicitly send sale / purchase form to the person in charge. Note: Contactpersons are Users.

Add in an address if you want address to be appeared on your invoice and other sale / purchase forms.

Adding Users to Financio

There 4 type of user permissions on Financio.

Owner

Admin

Superuser

User

As the Owner who created the business, you will be granted access to all modules including managing the list of users. Admin has similar permission as Owner, but they are not able to view / update subscription related info.

Superuser also has permission to all modules, except the power to manage users. For User, you will have to specify the permission level to each modules.

Yes! You have made it! Everything should be looking good, Financio has been fully configured, you are free to record your day to day transactions and see how Financio can be the helping hand in automating your business operations.